Why the “IKEA Effect” Is Killing Your Entrepreneurial Dream

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The deadliest sin at the start of your journey is pride.

4 min read

Opinions expressed by Entrepreneur contributors are their own.

“Looks great, doesn’t it?” Assembling the entertainment center for our new apartment had taken me hours. Let’s just say my craftsmanship was less than stellar: One of the side panels was backwards, and I had even managed to scratch the glass doors before finishing the job. I didn’t care, though. I was proud of my mediocre construction and that’s all that matters… right?

Behavioral economist and TEDx speaker Dan Ariely coined a term for this line of thinking: The IKEA effect. The concept is simple: The more time and effort you expend on a creation, the more attached to it you become. The IKEA effect is fine for particle board furniture construction and other personal hobbies, but as an aspiring entrepreneur, it will sink you before you even start.

Related: 5 Fatal Entrepreneurial Delusions

The problem with being overly attached to your work is that it makes pivoting or throwing out a project altogether way more painful. Entrepreneurship is about innovation and creation, but it’s also about separating what you want to work from what actually works.

If you’re attached to your business idea or the way you market it, you’re holding yourself back. Here are three ways to detox from attachment and develop a more flexible perspective.

Be prolific, not perfect

The origin of the 10,000 hours rule for mastery is a 1993 study of violin students by the late K. Anders Ericsson. That benchmark has been disputed in the decades since, but one thing is for sure: The best violinists — and even the ones in the middle of the pack — practiced a lot.

We all want to produce a terrific product, but simply thinking about that perfect offer or prototype isn’t enough. We have to test it. We have to press publish and ship the product before we feel ready. As LinkedIn founder Reid Hoffman notes: “If you’re not embarrassed by the first version of your product, you’ve launched too late.”

Consistent output helps you elicit the feedback (or crickets) you need to make your next move. What works? What doesn’t? If you wait for perfection before you ship, you’ll never know for sure.

Related: 10 Fears You Must Overcome When Starting a New Business

Find feedback loops that support you

Many aspiring entrepreneurs — and creators especially — like to lean i

Source: Entrepreneur.com

Read more here:
Why the “IKEA Effect” Is Killing Your Entrepreneurial Dream

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